MiniMax M3.1 Flash shows China's AI price race has no floor in sight

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What happened
MiniMax's M3.1 Flash jumps 13 points over its predecessor to 42 on the Artificial Analysis Intelligence Index, at half the cost. It also hits 73.7 percent on the DeepSWE v1.1 coding benchmark for under $0.30 per task, matching Deepseek V4.1 Flash 1017 on both performance and price.
Summary assembled by rule from the sources below